Retirement Planning
It’s never too early to start thinking about retirement
and we can help.
News you can use:
- As of April 2002 the new tax laws increased the annual amount that you can contribute to an IRA from $2,000 to $3,000.
- If you are age 50 or older, you can now make IRA "catch-up" contributions of $5000.
- IRA contribution limits and "catch-up" contributions will continue to increase through 2008. see chart below
|
|
2002-2004 |
2005 |
2006-2007 |
2008 |
|
Annual Limit |
$3,000 |
$4,000 |
$4,000 |
$5,000 1 |
|
"Catch-up" Contribution |
$500 |
$500 |
$1,000 |
$1,000 |
|
Total Contribution |
$3,500 |
$4,500 |
$5,000 |
$6,000 |
1Indexed for inflation after 2008
- Retirement Calculators for your Convenience: (Use your Back Button to Return)
Take this simple retirement planning quiz :
How much money will I need to live comfortably through retirement?
At what age can I retire? Is 65 the magic number for me?
If I change jobs what should I do with the savings I have accumulated in my 401(k)? Leave it, take it, or roll it over?
Other than my 401(k), 403(b) or other qualified retirement plan account, what are my options for retirement savings?
What are penalty free withdrawals and how do they work?
What is a required minimum distribution?
What is the maximum annual contribution allowed?
We can help you answer these questions and others that
you may not have considered. We offer free one-hour consultations
where we help you consider all of your retirement planning options.
Remember, there is no obligation and no cost to you.
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